1. First of all, the penalty reduction scheme of China Bank's credit card is determined according to the specific situation. Paying off the arrears at one time can reduce the liquidated damages to a certain extent, but the specific amount of reduction and exemption needs to be determined according to bank policies and personal credit records.
2. Secondly, under normal circumstances, if the customer pays off all debts in one lump sum before the repayment date of the credit card bill, it is possible to enjoy a certain percentage of penalty relief. The reduction ratio is usually between a few percentage points, and the specific amount is within the scope of banking policy.
In addition, whether the penalty is reduced or not is also related to the customer's credit record. If the customer's historical repayment performance is good and there is no breach of contract such as overdue repayment, then the bank may be more inclined to give relief when considering the relief of liquidated damages.
To sum up, China Bank can enjoy a certain percentage of penalty relief when it pays off its debts in one lump sum. The specific amount of relief is determined according to bank policies, personal credit records and repayment conditions. Customers are advised to understand the bank regulations and personal credit records before repayment, so as to better grasp the opportunity to reduce liquidated damages.
Extended data:
As a large state-owned bank in China, Bank of China has rich experience and perfect management system in credit card business. For the benefit of customers and maintaining the good order of the credit market, banks have relevant regulations on the setting and reduction of credit card liquidated damages, which are flexibly implemented according to the situation. Therefore, understanding relevant policies and accurate repayment are important prerequisites to ensure the reduction and exemption of liquidated damages.
This answer is based on the usual policies and practices of bank credit cards in China and does not involve specific regulations or external factors. Due to personal credit records, bank policy updates and other reasons, the specific situation may change. Therefore, in the specific repayment, customers are advised to consult the Credit Card Department of China Bank or read relevant credit card manuals to obtain the latest and accurate information.